Teacher Retirement System of Texas increased its position in shares of MGM Resorts International (NYSE:MGM) by 4.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 406,481 shares of the company’s stock after purchasing an additional 18,261 shares during the period. Teacher Retirement System of Texas owned 0.07% of MGM Resorts International worth $13,572,000 at the end of the most recent quarter.
Several other hedge funds have also recently modified their holdings of the stock. Thrivent Financial For Lutherans acquired a new stake in shares of MGM Resorts International during the second quarter worth about $250,000. Janus Henderson Group PLC increased its holdings in MGM Resorts International by 1,978.3% in the second quarter. Janus Henderson Group PLC now owns 1,106,856 shares of the company’s stock valued at $34,634,000 after buying an additional 1,053,597 shares in the last quarter. State Street Corp increased its holdings in MGM Resorts International by 1.0% in the second quarter. State Street Corp now owns 8,934,495 shares of the company’s stock valued at $279,564,000 after buying an additional 92,329 shares in the last quarter. Raymond James Financial Services Advisors Inc. increased its holdings in MGM Resorts International by 44.1% in the second quarter. Raymond James Financial Services Advisors Inc. now owns 49,284 shares of the company’s stock valued at $1,542,000 after buying an additional 15,071 shares in the last quarter. Finally, Nomura Holdings Inc. increased its holdings in MGM Resorts International by 233.3% in the second quarter. Nomura Holdings Inc. now owns 13,279 shares of the company’s stock valued at $416,000 after buying an additional 23,239 shares in the last quarter. Hedge funds and other institutional investors own 82.31% of the company’s stock.
In other MGM Resorts International news, Director William A. Bible sold 6,128 shares of the business’s stock in a transaction that occurred on Wednesday, November 22nd. The shares were sold at an average price of $33.23, for a total value of $203,633.44. Following the completion of the sale, the director now directly owns 27,081 shares of the company’s stock, valued at $899,901.63. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider Phyllis James sold 19,149 shares of the company’s stock in a transaction on Wednesday, November 29th. The stock was sold at an average price of $33.64, for a total transaction of $644,172.36. Following the sale, the insider now directly owns 8,961 shares of the company’s stock, valued at $301,448.04. The disclosure for this sale can be found here. Insiders have purchased 95,000 shares of company stock worth $581,500 over the last ninety days. 12.20% of the stock is currently owned by insiders.
A number of analysts recently issued reports on MGM shares. Zacks Investment Research upgraded shares of MGM Resorts International from a “hold” rating to a “buy” rating and set a $40.00 target price on the stock in a research report on Monday, February 5th. Jefferies Group started coverage on shares of MGM Resorts International in a research report on Thursday, January 18th. They set a “buy” rating and a $43.00 target price on the stock. Nomura decreased their price target on shares of MGM Resorts International from $38.00 to $37.00 and set a “buy” rating on the stock in a report on Wednesday, November 1st. Roth Capital began coverage on shares of MGM Resorts International in a report on Wednesday, October 25th. They issued a “buy” rating and a $38.00 price target on the stock. Finally, Stifel Nicolaus reissued a “hold” rating and issued a $36.00 target price (up previously from $33.00) on shares of MGM Resorts International in a research note on Thursday, November 9th. Four analysts have rated the stock with a hold rating and fifteen have given a buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $37.38.
MGM Resorts International (MGM) traded down $0.53 during mid-day trading on Monday, hitting $34.47. 8,295,500 shares of the stock were exchanged, compared to its average volume of 8,716,467. MGM Resorts International has a twelve month low of $25.15 and a twelve month high of $38.41. The company has a debt-to-equity ratio of 1.26, a current ratio of 1.02 and a quick ratio of 0.98. The firm has a market capitalization of $19,510.00, a price-to-earnings ratio of 33.79, a P/E/G ratio of 6.06 and a beta of 1.43.
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MGM Resorts International Profile
MGM Resorts International is a holding company. The Company, through its subsidiaries, owns and operates casino resorts. The Company operates in two segments: domestic resorts and MGM China. Its domestic resorts segment consists of non-gaming operations, including hotel, food and beverage, entertainment and other non-gaming amenities.
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